COMPANY NEWS

COMPANY NEWS; TRANS WORLD TO BUY CAMELOT MUSIC FOR $451.9 MILLION

Published: October 27, 1998

Trans World Entertainment Corporation agreed yesterday to buy its rival Camelot Music Holdings Inc. for about $451.9 million in stock and assumed debt, creating the nation's largest operator of music stores found in malls. Trans World has headquarters in Albany and owns the Strawberries, Coconuts and Record Town chains. Camelot is based in North Canton, Ohio, and owns stores called Camelot, the Wall and Spec's Music. The combined company will have more than 1,000 stores in 44 states.